OAKDALE, Calif., Aug. 07, 2025 (GLOBE NEWSWIRE) -- Oak Valley Community Bank, a wholly-owned subsidiary of Oak Valley Bancorp (NASDAQ: OVLY), announced that Twyla Brooks has joined the bank as Vice President, Regional Branch Manager. She will be based out of the new Lodi Branch, located at 31 South School Street, which is slated to open this fall. Brooks brings 20 years of banking experience to her new role, including 14 years with her previous employer where she served as a VP Retail Branch Manager of thei ...

For Immediate Release | Date: | July 18, 2025 | | --- | --- | | Contact: | Chris Courtney/Rick McCarty | | Phone: | (209) 848-2265 | | | www.ovcb.com | Exhibit 99.1 PRESS RELEASE OAK VALLEY BANCORP REPORTS 2nd QUARTER RESULTS AND ANNOUNCES CASH DIVIDEND OAKDALE, CA – Oak Valley Bancorp (NASDAQ: OVLY) (the "Company"), the bank holding company for Oak Valley Community Bank and their Eastern Sierra Community Bank division, recently reported unaudited consolidated financial results. For the three months ended J ...

Core Points - Oak Valley Community Bank has received approval for three Affordable Housing Program grants totaling $5.346 million to support housing initiatives in Stanislaus and Tuolumne counties [1][2][3] - The grants will fund projects that provide transitional housing and supportive services for vulnerable populations, including renovations and new constructions [2][3] - The Federal Home Loan Bank of San Francisco awarded a total of $49.7 million in AHP grants to 31 affordable housing projects in 2025, emphasizing the importance of community partnerships [4] Company Overview - Oak Valley Community Bank is a wholly-owned subsidiary of Oak Valley Bancorp, operating 18 branches across California and offering various loan and deposit products [8] - The bank is actively involved in community investment programs and advocates for affordable housing solutions [4][8] Industry Context - The Affordable Housing Program grants aim to address urgent housing needs for low- and moderate-income individuals in Arizona, California, and Nevada [4] - The FHLBank San Francisco plays a crucial role in supporting local lenders and enhancing community development through funding and resources [9]

Core Points - Oak Valley Bancorp announced the retirement of Thomas A. Haidlen and Danny L. Titus from the Board of Directors, effective June 17, 2025, and appointed Erich A. Haidlen to the Board [1][2][3] Group 1: Board Changes - Thomas A. Haidlen and Danny L. Titus have been board members since 1991 and 1992 respectively, contributing significantly to the establishment and growth of Oak Valley Community Bank [2][3] - Erich A. Haidlen, the new board member, has extensive experience as General Manager and President of Haidlen Ford Inc. and a background in financial analysis [4][6] Group 2: Contributions and Expertise - The retiring members played crucial roles in cultivating investor interest and providing guidance for nearly 35 years [3] - Erich A. Haidlen brings valuable business and financial expertise, along with deep local knowledge as a fifth-generation resident of Stanislaus County [5][6] Group 3: Company Overview - Oak Valley Bancorp operates Oak Valley Community Bank, offering a full range of loan and deposit services through 18 branches and plans to open a 19th branch in Lodi later this year [7]

Financial Performance - The Company recognized net income of $5,297,000 for the three-month period ended March 31, 2025, a decrease of 7.5% compared to $5,727,000 for the same period in 2024[97]. - Non-interest income for the same period was $1,613,000, reflecting a year-over-year increase of $94,000 or 6.2%[113]. - The Company recorded provisions for income taxes of $1,499,000 for the three months ended March 31, 2025, a decrease of $5,000 compared to the same period in 2024, with an effective tax rate of 22.1%[124]. Asset and Loan Management - Total assets increased by $23,761,000 or 1.3% from December 31, 2024, while total net loans decreased by $15,774,000 or 1.4%[97]. - Non-accrual loans totaled $0 as of March 31, 2025, and December 31, 2024, indicating strong credit quality within the loan portfolio[128]. - The allowance for credit losses decreased by $12,000 to $11,448,000 as of March 31, 2025, compared to $11,460,000 as of December 31, 2024[131]. Deposits and Funding - Deposits increased by $23,677,000 or 1.4% for the same period, contributing to a cash and cash equivalent balance increase of $40,548,000 or 24.0%[97]. - Average deposits increased by $60,713,000 to $1,693,130,000 for the three-month period ended March 31, 2025, compared to the same period in 2024[141]. - The Company had no brokered deposits as of March 31, 2025, and December 31, 2024, emphasizing a strategy focused on core deposit growth[143]. Interest Income and Expenses - Net interest income increased by $566,000 to $17,807,000 for the three-month period ended March 31, 2025, primarily due to an increase in earning asset balances[100]. - Non-interest expense increased by $1,095,000, primarily due to staffing increases and overhead related to servicing growing business portfolios[97]. - Total non-interest expenses increased by $1,095,000 or 9.5%, totaling $12,624,000 for the three months ended March 31, 2025[119]. Capital and Liquidity - The Company maintains a common equity Tier 1 capital ratio of at least 4.5% as per U.S. Basel III rules, ensuring compliance with capital standards[146]. - As of March 31, 2025, the Company's total capital to risk-weighted assets ratio was 15.6%, exceeding the minimum requirement of 10.5%[148]. - The liquidity level, measured as the percentage of liquid assets to total assets, was 24.1% as of March 31, 2025, up from 22.7% as of December 31, 2024[152]. Future Outlook and Commitments - The Company anticipates sufficient earnings at the Bank level to provide dividends to meet funding requirements for the next twelve months[151]. - The Company committed an additional $5,000,000 to low-income housing tax credit funds during the three months ended March 31, 2025, bringing total unfunded commitments to $9,490,000[140]. - The Company plans to comply with the CFPB Open Banking Rule, which requires data providers to make consumer financial data available upon request[156].

Company Recognition - Oak Valley Community Bank has been named one of the 2025 Best Places to Work in the Central Valley by Best Companies Group, marking the second consecutive year for this recognition [1][2] - The bank was also recognized by Opportunity Stanislaus for "Growing the Economy" by increasing its workforce by 10% or more throughout 2024 [1] Company Culture - The recognition reflects the organization's commitment to creating a positive work environment that prioritizes growth, values individuals, and fosters a culture of excellence [2] - The CEO emphasized the importance of a deep-rooted service culture, where the team goes beyond expectations to build trust and strengthen customer relationships [2] Evaluation Process - The Best Places to Work program involves a survey and evaluation of companies based on employee perspectives, examining practices, programs, and benefits [3] - Participating companies receive an in-depth evaluation that identifies strengths and weaknesses, which can be used to enhance employee retention and recruitment programs [3] Other Recognized Companies - Other recipients of the Best Places to Work recognition include Black Water Consulting Engineers, DeHart Plumbing, Heating & Air, E- Technologies Group, and several others [4] Economic Development Organization - Opportunity Stanislaus is focused on improving the economic vitality of Stanislaus County by supporting local entrepreneurs and attracting innovative companies [6]

Core Insights - Oak Valley Community Bank has promoted Jaime Gonzalez to Assistant Vice President, Branch Manager of the Modesto–Dale Road Branch, reflecting the bank's commitment to leadership development and customer service excellence [1][2]. Company Overview - Oak Valley Bancorp operates Oak Valley Community Bank and its Eastern Sierra Community Bank Division, providing a comprehensive range of loan and deposit services to individuals and small businesses [4]. - The bank currently has 18 branches located in various cities including Oakdale, Turlock, Stockton, and Modesto, with a 19th branch set to open in Lodi later this year [4]. Leadership and Employee Recognition - Jaime Gonzalez has over 20 years of banking experience and has been with Oak Valley Community Bank for more than eight years, previously serving as Customer Service Manager at the Modesto–McHenry Branch [2]. - In 2019, Gonzalez was recognized as Customer Service Manager of the Year, highlighting his exemplary performance and contributions to the bank [3]. Community Engagement - Gonzalez is an active member of St. Jude Catholic Church in Ceres and resides in Modesto with his family, indicating the bank's focus on community involvement and employee engagement [3].

Financial Performance - Consolidated net income for Q1 2025 was $5,297,000, or $0.64 per diluted share, down from $6,008,000, or $0.73 EPS in the prior quarter [3]. - Net interest income for Q1 2025 was $17,807,000, slightly down from $17,846,000 in the previous quarter, while the net interest margin increased to 4.09% from 4.00% [4]. - Non-interest income rose to $1,613,000 in Q1 2025, compared to $1,430,000 in the prior quarter, driven by positive changes in the fair value of equity securities [5]. - Non-interest expenses increased to $12,624,000 in Q1 2025, up from $11,548,000 in the previous quarter, primarily due to staffing and operating costs [6]. Asset and Loan Management - Total assets reached $1.92 billion as of March 31, 2025, an increase of $23.8 million from December 31, 2024 [7]. - Gross loans were $1.09 billion at March 31, 2025, a decrease of $15.6 million from the previous quarter, but an increase of $51.4 million year-over-year [7]. - The allowance for credit losses as a percentage of gross loans was 1.05% as of March 31, 2025, stable compared to 1.04% in the previous quarter [8]. Deposits and Branch Expansion - Total deposits increased to $1.71 billion, up $17.9 million from December 31, 2024, and $101.2 million year-over-year [7]. - The company plans to open its 19th branch location in Lodi later this year, expanding its presence in the market [9]. Stock Performance - The stock price was $24.96 at the end of Q1 2025, with a price-to-earnings ratio of 9.56 [13].

Core Viewpoint - Oak Valley Bancorp reported a decrease in net income for Q1 2025 primarily due to increased operating expenses, despite a stable net interest margin and growth in total assets and deposits [1][2][6]. Financial Performance - Consolidated net income for Q1 2025 was $5,297,000, or $0.64 per diluted share, down from $6,008,000, or $0.73 EPS in the previous quarter and $5,727,000, or $0.69 EPS a year ago [1]. - Net interest income for Q1 2025 was $17,807,000, slightly down from $17,846,000 in the prior quarter but up from $17,241,000 a year ago [3]. - Non-interest income increased to $1,613,000 in Q1 2025 from $1,430,000 in the previous quarter and $1,519,000 a year ago, driven by positive changes in the fair value of equity securities [4]. - Non-interest expenses rose to $12,624,000 in Q1 2025 from $11,548,000 in the previous quarter and $11,529,000 a year ago, mainly due to staffing and operational costs [5]. Balance Sheet Highlights - Total assets reached $1.92 billion as of March 31, 2025, an increase of $23.8 million from December 31, 2024, and $118.6 million from March 31, 2024 [6]. - Gross loans were $1.09 billion, a decrease of $15.6 million from December 31, 2024, but an increase of $51.4 million from March 31, 2024 [6]. - Total deposits increased to $1.71 billion, up by $17.9 million from December 31, 2024, and $101.2 million from March 31, 2024 [6]. - The liquidity position remained strong with cash and cash equivalents of $209.3 million, an increase of $40.5 million from December 31, 2024 [6]. Credit Quality - Non-performing assets remained at zero as of March 31, 2025, consistent with previous periods [7]. - The allowance for credit losses as a percentage of gross loans was 1.05%, stable compared to 1.04% at the end of the previous quarter and 1.05% a year ago [7]. Operational Overview - Oak Valley Bancorp operates through 18 branches and plans to open a 19th branch in Lodi later this year [8].

Core Insights - Oak Valley Community Bank has announced the promotions of Greg Mulder to Vice President, Commercial Banking Officer, and John Westberg to Assistant Vice President, Commercial Banking Officer [1][4] Group 1: Promotions and Roles - Greg Mulder has been with the bank for nearly 11 years, progressing from Credit Analyst to AVP Commercial Credit Officer, and will now oversee a significant C&I loan portfolio [2] - John Westberg joined the bank seven years ago and will focus on portfolio management, client growth, and strategic projects in his new role [3] Group 2: Background and Contributions - Mulder is recognized for managing complex C&I relationships and reflects the bank's core values through customer service [2] - Westberg has played key roles in initiatives like the Paycheck Protection Program and contributes across departments [3] Group 3: Company Overview - Oak Valley Bancorp operates Oak Valley Community Bank and Eastern Sierra Community Bank, offering various loan and deposit products through 18 branches [4] - The company plans to open its 19th branch location in Lodi later this year [4]